A Critical Financial Situation
The Màgic shopping center in Badalona, one of the focal points of the city, is immersed in a sea of economic difficulties. The management company, Vila de Badalona, which belongs to the influential Sanahuja family, has started a bankruptcy process, as revealed by Metrópoli Oberta and has been officially registered.
Context and Consequences
Since its opening in 2008, the center has accumulated a long-term debt that exceeds 45 million euros, in addition to a short-term debt of 3.4 million euros. These figures are the result of several loans intended for the construction of the site. Although the company closed 2022 with a positive balance of 740,000 euros, its current situation has led the Badalona City Council to declare its insolvency. However, the authorities have assured that this situation will not interfere with the center’s daily operations.
A Center With History
Màgic de Badalona has witnessed several controversial events over the years, including security incidents that have marked its public image. Its inauguration coincides with the beginning of the financial crisis, a complicated time that affected several sectors, including commerce and sports, as the pavilion of the Joventut basketball club was also opened at that time.
The Competition Administration
Since June 18, the management of the bankruptcy proceedings has been assigned to Víctor Marroquín, managing partner of the Marroquín Advocats firm. He is responsible for overseeing the process and ensuring that appropriate decisions are made to restructure the company’s debt.
Understand the Creditors’ Concursion
The bankruptcy is a legal mechanism designed to help companies in insolvency. It allows debts to be restructured in a way that seeks equity between creditors. In this case, the company has recognized that it cannot meet its financial commitments and has requested judicial intervention.
Process and Phases of the Contest
The competition process involves several phases. First, a common phase is carried out where debts and assets are classified. Subsequently, an attempt is made to reach an agreement with the creditors. If this is not achieved, it goes to the liquidation of the assets to satisfy the debts. The outcome of the process may vary, including the possibility of fully liquidating assets or extinguishing debts if there are insufficient assets.
Looking Towards the Future
With such an uncertain outlook, the future of the Badalona Magic depends on the decisions made in the coming months. Its ability to overcome this crisis and remain an important commercial hub for the city will be decisive, both for the local economy and for its public image.
